Tiger Brokers (Nasdaq: TIGR) announced on Monday its entrance into the Australian online brokerage industry with the launch of its proprietary trading platform in the country.
Dubbed Tiger Trade, the trading platform will allow Australian investors and traders to trade Australian and American listed shares, exchange-traded funds (ETFs) and options. Additionally, Aussie customers will have access to Hong Kong-listed shares and ETFs. It has further assured that it will offer real-time quotes, along with in-depth market data and analytics tools.
It will provide market access around the clock, including after-market trading.
“We're excited to come to the Australian market and bring a higher quality investing experience to local investors, and deliver access to key international markets,” said Michael McCarthy, the Chief Strategy Officer at Tiger Brokers Australia.
Tiger Brokers, which is controlled by the Chinese Internet entrepreneur Tianhua Wu, is very popular within mainland China as it provides access to international stock markets. However, it recently came under pressure from the possible Chinese crackdown on the foreign-licensed online trading platform ban.
Now, the brokerage is focusing aggressively on its expansion outside China, mostly in the Asia-Pacific region.
Established in 2014, the broker now has around 9 million users and is continuously reporting a massive jump in its revenue.
Copy Trading Is the Future?
To tap the new-age investors in Australia, Tiger Brokers is launching social trading services.
“We are seeing the rise of retail traders and investors, particularly the younger generation who are more technology-savvy. Given our powerful all-in-one trading platform, we want to give Australians full access to global markets,” McCarthy added.
“Australia is an important market for us, we are committed to growing our presence in Australia, and we will continue to invest in technology and superior client experience. With a team of experienced engineers, we are focused on bringing out more products and tools tailored to the needs and preferences of local investors.”
